As with all aspects of investing there are a number of tools, full investment club software programs and otherwise, as well as other pieces of information that can make running your investment club smoother. Consider having several of the members of your investment club try different types of software on their computers so that the club can make an informed decision about where it wants to invest.
Some of the software available includes:
Stock analyzers: There are different types of software available that will help you analyze the stocks that you’re interested in and keeping an eye on.
Available from Kingsoft: http://www.kinginet.com/
Available from NAIC:
Accounting software: You’ll want to have investment club software for accounting purposes so that you can keep track of all your finances and generate reports for members of the club to have for their records.
NAIC Club Accounting Software: The NAIC produces accounting software that is tailored to investment club needs.
Portfolio record keepers: This type of investment club software will keep track of the clubs portfolio. It will track details such as investment fees and transactions, your purchases and sales, member transactions, and stock market fluctuations for your stocks.
NAIC Portfolio Record Keeper: This software will help you keep track of the information that is important to your club’s stock portfolio.
There are also a number of investment sites that will send your club investment newsletters which will contain a great deal of information about current stock trends. You may want to consider having members of the club subscribe to some of these, such as the Investor Advisory Service provided by Iclub Central or The Motley Fool’s Money Advisor.
Your club may also want to consider investigating the most active stocks in various markets when they are ready to begin investing. Up-to-date information on this can be found at a number of sites, including www.quote.com.
Remember, stocks are volatile and can fall or rise in a matter of hours so any price information that you get should always be confirmed prior to buying or selling a stock and tracking it with your investment club software. Each club needs someone who can keep a constant eye on the stock market and the stocks that it’s looking at, which is why all clubs need a broker.
However, one of the main reasons for starting an investment club is to learn about the stock market and do your own investing. So the club should take every opportunity that it can to learn how to monitor its stocks.
You can find a great deal of information to help beginning investors, including how to read a stock quote, glossaries of investment terms, and explanations of stock symbols at sites such as www.investopedia.com or http://www.netvest.com/edu/edu_glossary.html.
It doesn’t matter whether you’re amateur investors just starting out, or more experienced investors that want to expand into more investments, there are tools, investment club software programs more generally and resources out there to make all parts of investing clear to your club members.
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